Income of minor
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 August 2011
Bank deposits are kept in minors name. Father has taxable income. Bank has made TDS and will issue TDS certificate in the name of Minor. Income will be clubbed in the income of the father. Then how father will get the credit of TDS certificate issued in the name of Minor?
26 August 2011
request to bank to change TDS details.
27 August 2011
HI,
BANK DEDUCT TDS IN THE NAME OF MINOR HERE QUESTION IS THAT MINOR HAVE A PAN OR NOT?????
NO MATTER U HAVE TO FILE YOUR RETURN OF INCOME WITH APPLICABLE CLUBBING PROVISION AND DEDUCT TDS (DEDUCTED FROM MINOR'S INCOME)FROM YOUR TAX.
IF MINOR HAVEN'T PAN THEN BANK WILL BE LIABLE TO PAY TAX @ 20%.
NO MATTER YOUR 26AS NOT DISCLOSE THIS.....
BANK DEDUCT TDS IN THE NAME OF MINOR HERE QUESTION IS THAT MINOR HAVE A PAN OR NOT?????
NO MATTER U HAVE TO FILE YOUR RETURN OF INCOME WITH APPLICABLE CLUBBING PROVISION AND DEDUCT TDS (DEDUCTED FROM MINOR'S INCOME)FROM YOUR TAX.
IF MINOR HAVEN'T PAN THEN BANK WILL BE LIABLE TO PAY TAX @ 20%.
NO MATTER YOUR 26AS NOT DISCLOSE THIS.....
27 August 2011
yes that's right but make sure whose name and pan bank deducted TDS.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Defective Return - Tds on advance
- Fixed Deposit Claim Relinquishment by the Nominee
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Accounting treatment for Fixed Assets
- Is correct entry for FDs
- Interest on public Provident Fund
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
